China vows countermeasures to raised US tariffs
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China's government says it will take "necessary countermeasures" in response to U.S. President Donald Trump's latest tariff hike on Chinese imports but gave no details of possible retaliation.
The announcement followed an increase of U.S. duties on $200 billion of Chinese goods from 10% to 25%, escalating a fight over Beijing's technology ambitions and other trade strains.
A Chinese Commerce Ministry statement said, "China deeply regrets that it will have to take necessary countermeasures."
China responded to earlier U.S. tariff hikes by imposing penalties on $110 billion of American imports but is running out of goods for retaliation due to their lopsided trade balance.
Regulators have extended retaliation by targeting American companies in China. They have slowed customs clearing for shipments of their goods and stepped up regulatory scrutiny that can hamper operations.
